Allied Market Research
Loading...
Cart
0

Airport Retailing Market is Expected to Reach $40,592.8 Million by 2027-Allied Market Research

 

Report Code : A07942

quote The airport retailing market is expected to exhibit high growth potential during the forecast period. This is majorly attributed to inclination of people toward buying international products easily available on airports, upsurge in the middle- & upper-class disposable income & related expenditure, and increase in need & interest of people to spend more money on travelling and shopping. quote

Shankar Bhandalkar
Team Lead Consumer Goods at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new airport retailing market report published by Allied Market Research titled, “Airport Retailing Market by Product Type, Airport Size, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” 

The global airport retailing market is growing rapidly since last few years owing to the increase in inclination of people toward travelling and exploring unique holiday destinations. The growth of the market is further driven by upsurge in disposable income and improvement in living standard of living. Increase in the number of high net worth individual (HNIs) in emerging markets further propels the growth of the market. The global airport retailing market size was valued at $27,552.8 million in 2019, and is expected grow at a CAGR of 12.6% during 2021–2027 to reach 40,592.8 million in 2027

The airport retailing market trends are majorly attributed to rise in middle-class population in countries such as China, India, Brazil, Japan, Australia, and Thailand. As per the recent statistics, Asia-Pacific millionaires now control more wealth than their peers in North America. In terms of future spending options, travel has been recognized as the top priority with greater focus on unique luxury experiences and adventure activities. Surge in interest of people to explore new places and to have unique travel experiences have encouraged market players to offer food & beverage products and regional liquor flavors that connect travelers to local culture of the destination and explore the unknown acquaintance of the place and its people. However, changing socio-economic conditions threatens the growth of the market. Market players are coming up with new specialized limited edition products for travel retail categories, which cater to the need of the travelers.

For the purpose of airport retailing market analysis, the market is segmented on the basis of product type, airport size, distribution channel, and region. Depending on product type, the market is divided into liquor & tobacco, perfumes & cosmetics, fashion & accessories, food & beverages, and others. In 2019, the perfumes & cosmetic segment held around 38% share of the global airport retailing market, and is expected to continue this trend during the forecast period. This is attributed to increase in interest of people to explore new fragrances and products in the perfumes & cosmetic industry. By airport size, the market is segregated into large airport, medium airport, and small airport. The medium airport segment is estimated to grow at the fastest rate.  Growth Expansion of the retail businesses on the medium airports is mainly majorly driven by the increasing increase in spending capacity of the middle middle-income groups, this is the major reason for the highest CAGR of the medium size airports, and this will offer prominent airport retailing market opportunities during the forecast time period. By distribution channel, it is categorized into direct retailer, convenience store, specialty retailer, and departmental store. 

The specialty retailer segment was the largest revenue contributor to the market in 2019, and is estimated to reach $15,098.4 million by 2027, registering a CAGR of 13.2% from 2021 to 2027. 

Region-wise, Asia-Pacific is expected to grow at the fastest rate in the airport retailing market, registering a CAGR of 13.7% during the forecast period. LAMEA is anticipated to exhibit the second highest growth rate, owing to the presence of developing economies in the region. 

Rise in travelling & shopping aspirations of young and rich millennial is expected to majorly foster the market growth in the Asia-Pacificregion. Baby boomer and generation X are the major contributors in the Asia-Pacific airport retailing market. 

Key Findings Of The Study

  • The liquor & tobacco segment is expected to grow at a CAGR of 12.0% during the forecast period.
  • The perfumes & cosmetics segment is anticipated to dominate the airport retailing market growth, registering a CAGR of 13.7%
  • The large airport segment is projected to garner the highest airport retailing market share of around 57% by 2027, registering a CAGR of 12.5%.
  • The specialty retailer segment is anticipated to dominate the global airport retailing market with a CAGR of 13.2%.
  • The direct retailer segment is estimated to grow at a CAGR of 13.8% during the forecast period. 

The global market is fragmented with the presence of several market participants across various regions such as Airport Retail Group LLC, Dubai Duty Free, Dufry AG, DFS Group Ltd, King Power International, The Shilla Duty Free, China Duty Free Group Co., Ltd, Gebr. Heinemann SE & Co. KG, Japan Airport Terminal Co., Ltd, and Flemingo International. 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Airport Retailing Market by Product Type (Liquor & Tobacco, Perfumes & Cosmetics, Fashion & Accessories, Food & Beverages, and Others), Airport Size (Large Airport, Medium Airport, and Small Airport), and Distribution Channel (Direct Retailer, Convenience Store, Specialty Retailer, and Departmental store): Global Opportunity Analysis and Industry Forecast, 2021-2027 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Airport Retailing Market"
Purchase Enquiry